"We need to reduce household debt across the board, especially mortgage debt and student-loan debate. Individual debt-adjustment programs are too slow and administratively complex. Moderate inflation - the 2% to 4% of the quarter century after World War II and then again of the 1980s - amounts to gradual debt relief. Yes, that’s a tax on savers. But as we saw in the 1950s and 1960s and again in the 1980s, savers benefit too from a growing economy."
— David Frum, This Country Needs Inflation
"While the debate over megabanks sometimes sounds technical, in fact it is quite simple. Ask this question: If a humongous financial institution gets into trouble, is this a big deal for economic growth, unemployment, and the like? Or, more bluntly, could Citigroup or a similar-size European firm get into trouble and stumble again toward failure without attracting some form of government and central bank support (whether transparent or somewhat disguised)?"
— Simon Johnson, Big Banks’ Tall Tales.
